Many business owners often start out with the impression that they will do well for themselves if they only take cash or check for payment. In truth, however, they are doing their business a disservice. If you weigh the benefits of accepting credit cards, you...

Old credit cards use magnetic strips for data. Now, some of the top credit card processing firms are advocating a shift to micro chips for better security. Here is an overview of the implementation of EMV chip-based credit cards in the United States.
Europay, Mastercard &...

Unfortunately, some business owners enter into a merchant account agreement without understanding the terms they are agreeing to. This can backfire and lead to significantly higher discount rates and fees. One of the most important terms to consider when comparing merchant accounts is the volume...

Interchange downgrades and the associated higher rates are something that all merchants want to avoid. Major credit card organizations, such as Visa, Discover Card and MasterCard, maintain Interchange Downgrade rates for both credit card and debit card transactions that fail to meet the requirements for...

Consumers are using plastic rather than cash. In order to compete, small businesses must accept credit cards. There are hundreds of companies vying for a company’s processing business, so business owners need to do their homework before signing up with a processor.
One of the most...

In order to process credit cards for your business activities, you will need to apply for a merchant account with a credit card processing company. There are generally strict requirements in place that businesses will need to meet in order to be approved for this...

Every business can benefit from being able to accept credit cards as people these days use them to make many of their transactions. However, choosing the right credit card processor is not exactly as easy as it sounds, and many merchants end up making costly...

Chargebacks are something that every business wants to avoid. Financial organizations often have complex and complicated disputation processions, which may involve fees. However, occasionally there are legitimate reasons why the customer would refuse to accept responsibility for the charge. For example, if the customer receives...

In the credit card processing industry, some business types are considered high-risk. High-risk businesses are often turned down for standard merchant accounts. It's important for business owners to understand if they are in a high-risk industry, as a specialized type of merchant account is often...

Canceling merchant accounts can be a difficult process because the account representatives are trained to talk you out of this decision. While there are some considerations you should make before canceling the account, you should be able to get through everything unscathed if you’re firm...

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